Tata Steel: Trading below 200 day EMATata Steel
- stock is trading below 200 day EMA
- trading near 20 day EMA
-gap resistance at 109-114
Given the set up one may consider to sell 27 Oct 2022 expiry 120 Call option currently around 2.3
Profit potential 9-10%.
Be cautious if Tata Steel goes above 110. Exit if closing is above 114 in Spot.
Take care and safe trading...!!!
Disclaimer
- The view expressed here is my personal view
- Past performance is not a guarantee for future predictions
- Use this for educational purpose
- Any decision you take, you need to take responsibility for the same
- It's your hard earned money. Treat it wisely
- Trade / Invest keeping in mind your trading style, goals and objectives, time horizon & risk tolerance
- if trading in F&O, understand that F&O trading involves risk
- Do take proper risk management measures
- Do your own analysis and consult your financial adviser if need be
HWHG trade ideas
Tata Steel - Short, Negative Crossover on weekly chartTata Steel first gave a weekly breakdown and then again established a weekly close below 100 after retest of breakdown level.
It is in a downtrend which will get negated if stock price establish a weekly close above 106 and then above 115 to start the fresh uptrend.
Until then, it is in downtrend and may slide till 82 and 75.
TATA STEEL - DAILY CHART - 26.09.2022 - BAHAVAN CAPITALTATA STEEL as per Daily chart analysis stock Below 98 then Target is 92.70.
With FII Net Selling 5101.30 Crores and DII Net Buying 3532.18 Crores it looks like FII have begin the selling once again and tomorrow could be an important day to see whether market is able to recover by consolidating forming a Reversal Doji candle in Nifty and Bank Nifty or continue to fall. Lets see whether the market if at falls can take reversal at jun 17th 2022 Nifty level of 15183.
Happy Profitable Trading to all..
Happy Navaratri wishes to All...
TATA Steel - Bullish PatternTATA Steel has formed a bullish pattern in the form of Cup & Handle. There is a possibility of 27 rupees upside (+24%) if it crosses its previous high of 112.90. Maybe by November or Dec 2022.
Anything below 96 is a short.
Watch out for this stock. This is my observation based on charts.
TATA STEEL: CorrectionAfter a five wave rally stock is correcting in a three wave fashion. The five wave rally can be considered as a wave-1 of higher degree and the subsequent fall should be taken as wave-2. Hence,stock is likely to correct towards 100/97 area which is also a 50%-61.8% fibonacci retracement zone, which suits better retracement for wave-2.
Trading strategy: Sell 103 , SL: 106 tgt: 100/97
TATASTEELNSE:TATASTEEL
Note :
1.One Can Go long with a Strict SL below the Trendline or Swing Low of Daily Candle.
2. Close, should be good and Clean.
3. R:R ratio should be 1 :2 minimum
4. Plan as per your RISK appetite
Disclaimer : You are responsible for your Profits and loss, Shared for Educational purpose!
TATA STEEL APPROACHING TO ITS CRUCIAL RESISTANCEAfter split the stock has rallied, almost 12% which now has put the prices at resistance zone (106-110) which was acted as a strong support.
The zone is around 106 - 110
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Some bad about this stock
1) prices trading below 200 day moving average.
2) Price corrected recently 45% which is huge.
3) The volatile metal prices, making business projections , dismal.
4) On chart we are seeing that it is trading below 110 level which was support earlier.
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Some Good about this stock
1) Stock prices has shown a big rally recently
2) Overall market sentiments shifted slightly bullish , as after expected FED policy.
3) Metal sector overall on chart is bullish in short term.
4) RSI crossed 70 on daily chart , many will argue at this point that it is overbought case, but I don't think so.
5) Quarterly results were average.
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Conclusion : Stock will be bullish above breakout of resistance zone , so plan accordingly.
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Comment below if you want to add or correct anything.
Tatasteel will take support at 100After stock split on tatasteel it was gone to over buy.
So after overbuy it will take correction at 100 or 98. even it has tried to break out 200 EMA and may be its confirming by correction.
Lets see it will be bearish for September 2022 and then will be time to invest or buy
Lets' wait and watch
TATA Steel gives another chance ??TATA STEEL gives another opportunity to missed traders with a beautiful low volume pullback to its breakout point.
The first breakout was given on high volume and stop loss has still not been hit. Stock gives traders another chance to enter
long with a good risk to reward of 1:2.
This pullback seems to be a normal one and no need for more selling to take place, wait for a bullish engulfing or the high of the recent red candle to be taken out for a long trade.
Note: More aggressive traders could try entering as soon as the market opens to get an even better entry price.
Keep It Simple